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- Home prices are set to drop by double digits in Austin, Seattle, Phoenix, and San Francisco, Goldman Sachs said.
- Those four cities have seen big increases in inventory, and supply is overwhelming demand, analysts wrote in a note.
- Nationwide, the outlook on home prices is less bleak, with Goldman seeing a 6.1% decline.
Out of the country's 25 largest metropolitan areas, four cities stand out for having particularly dim housing forecasts, according to Goldman Sachs.
By late 2024, home prices will decline by 19% in Austin, 12% in Seattle, 16% in Phoenix and 15% in San Francisco compared to late-2022 levels, the bank said in a note on Thursday.
While the housing market overall remains tight, those four cities have seen big increases in inventory, and supply is overwhelming demand, analysts said.